Settling an estate in Virginia means gathering the assets, notifying creditors, paying debts and taxes, and distributing what remains to the beneficiaries. Assets in a living trust settle privately without the court. An estate that needs probate takes 9 months to 12 months on average, and the creditor claim period of 6 monthsVa. Code §§ 64.2-554, 64.2-556(A) (six months from qualification before distribution may be compelled or ordered over creditors), 64.2-508.1(C)(4) (elective published notice: claims due at least six months from first publication); § 64.2-529 (separate 12-month personal-liability shield for the personal representative); § 64.2-550 (debts-and-demands hearing before the commissioner of accounts)Verified Sep 9, 2026View source is the floor. In a probate case the inventory of estate assets is due within 120 daysVa. Code § 64.2-1300Verified Sep 15, 2026View source of appointment.
In Virginia, you qualify in person before Circuit Court rather than filing a petition — you bring the original will and the required intake forms to an appointment with the clerk. Clerk of the Circuit Court issues Certificate of Qualification when the representative qualifies.
The creditor claim period of 6 monthsVa. Code §§ 64.2-508.1, 64.2-528, 64.2-529, 64.2-550, 64.2-552, 64.2-556Verified Sep 15, 2026View source protects the personal representative who distributes after it; it is not a bar, and late claims can still reach undistributed assets. Distributing assets before the period has run can leave the executor personally liable for a claim that arrives later.
Virginia allows executors 'reasonable compensation' — around 2.2%–3.8% of a $500,000 estate, judging by what the states with statutory schedules payVa. Code § 64.2-1208(A) (commissioner of accounts allows reasonable compensation; no statutory percentage)Verified Sep 9, 2026View source. Courts consider the size and complexity of the estate, the time spent, and the executor's skill and experience. Executors can waive the fee entirely or accept a reduced amount.
Settling a trust in Virginia starts when the successor trustee accepts the role: the trustee obtains death certificates and an EIN for the now-irrevocable trust, notifies the beneficiariesVa. Code § 64.2-700 et seq.Verified Jul 15, 2026View source within 60 daysVa. Code §§ 64.2-775, 64.2-796Verified Sep 15, 2026View source, takes inventory of the trust assets, settles the grantor's debts and taxes, and distributes what remains under the trust terms. The process runs privately, without probate court supervision.